Summerset Group, whose shares have made more than three times the gains of the NZX 50 Index in the past 12 months, said sales of occupation rights jumped 50 percent in the fourth quarter from a year earlier. The retirement village operator had 60 new sales and 51 resales in the final three months of 2013, up from 43 and …

OceanaGold Corp, the Melbourne-based mining group, plans to scale back its operations and shed staff at the Macraes goldfield in Otago in response to a falling gold price, and has flagged smaller production and an impairment charge in 2014. The mining group’s board has signed off on a plan to cut costs at Macraes, which has been operating for 23 …

The New Zealand dollar rose to a three-week high against the Australian dollar overnight as investors bet the fundamentals for the kiwi are more favourable than for its Australian counterpart this year. The kiwi touched 92.98 Australian cents overnight and was trading at 92.76 cents at 8am in Wellington, from 92.50 cents at 5pm yesterday. The local currency edged up …